Decline
In the year ended March 2001, Golden discs opened two new shops, in the Pavillion Centre in Swords, Co. Dublin and in the Crescent Centre in Limerick. Its turnover rose by 14% that year, to €29.7 million, and its after-tax profit rose by 31%, to €833,000. [9]
Co-founder Jack Fitzgerald transferred his shares in the business to his sons in 2006. He remained on the board until 2010. [10]
The chain's presence around the country had diminished in the early part of the 2000s, making a significant loss by 2008 [11] and entering examinership in 2009, [12] with multiple shop closures during this period, in line with similar trends with other physical music and movie retailers in other markets.
Revival
In 2013, Golden Discs reported its first profit since 2008 [13] and opened six new shops. [14] In 2017, the company set about its first attempts at expansion since the national economic recession with the opening of three new branches in November of that year located in The Square Town Centre, Tallaght, Main Street, Wexford and a pop up shop at 52 Henry Street, Dublin 1. The company also overhauled its website in the same year and made its full product offering available for purchase online. [15] As of September 2014, the company reportedly employed "more than 100 people across 17 stores". [16]
In November 2016, it was announced that Golden Discs concessions would move into more than half of Tesco Ireland's supermarkets as part of a three-year commercial agreement. "Golden Discs at Tesco" concessions operated as standalone units within Tesco supermarkets, offering CDs, DVDs and Games. The agreement made Golden Discs Ireland’s largest home-entertainment retailer with 96 locations nationwide. [17] This agreement came to an end in 2019. [18] [19]
In 2018, shops opened in Navan Town Centre Shopping Centre, County Meath, Market Cross Shopping Centre, Kilkenny and Liffey Valley Shopping Centre, Dublin. [20] [21]
In 2019, an increase in turnover to €13.2m and profits to €192,000 was cited as being down to an increase in sales of vinyl. [22] The company opened new stores in Sligo, Tralee, Drogheda and Jervis Shopping Centre that year. [23]
Like all other Irish retailers, the chain shut its doors in March 2020 due to the restrictions implemented in response to the COVID-19 pandemic in Ireland. The company offered click-and-collect services from various shops during lockdown periods. Golden Discs shops re-opened in May 2021. [24]
The company celebrated its 60th anniversary in 2022. [25]
In 2022, the company closed its branch in Tralee, and subsequently closed two of its Cork City shops in 2023, diminishing its presence in Munster. In 2023, the company also closed its Dún Laoghaire shop after over 20 years of business. [26]
The business is currently owned and operated by Stephen Fitzgerald, the son of the founder, Jack Fitzgerald. [27] It has 20 shops throughout Ireland. [28] [29]
